African VC LoftyInc Capital launches third fund for seed and Series A, reaches $43M first close
LoftyInc Capital has reached the first close of its third fund, LoftyInc Alpha, at $43 million. The fund will target late-seed and Series A startups, expanding its geographical focus across Nigeria, Egypt, Kenya, and Francophone Africa.
10 Startups to Watch in 2025 in West Africa
West Africa's startups received $2.8 billion in venture capital funding in 2024, a 50% increase from 2023. Fintech accounted for 31% of total funding, connecting 30 million people to banking services.
HUB2 Fintech Raises €8 Million to Expand Digital Payments in Francophone Africa
HUB2 secures EUR8 million in Series A funding. Funding led by TLcom Capital with participation from multiple investors.
Rethinking Fintech Distribution In Africa: The Role Of ‘Undiscovered Founders’
Funding for African startups grew 18.5x from 2016 to 2022, with 45% of it attributed to fintech. 75% of all equity funding secured by African fintech startups in 2023 went to just 10 companies.
Wave is Africa’s only startup on Y-Combinator’s list of top earners
Wave is the only African company listed on Y-Combinator's top 50 earning startups in 2024. Wave launched its mobile money product in Senegal in 2018, reducing transaction prices by up to 70% and offering free deposits and withdrawals.
